STIF (ALSTI) H1 2024 earnings summary

Executive summary

• Achieved consolidated revenue of €27.67M for H1 2024, up 69% year-over-year, driven by strong growth in explosion protection products, especially for BESS.

• EBITDA surged 340% to €6.27M, with net income, Group share, up 634% to €3.38M.

• International sales accounted for 83% of revenue, with significant expansion in the US and Asia.

• Major contracts secured with Tesla and Sungrow in the BESS segment, with BESS-related sales now 40% of total revenue.

• Expanded industrial footprint with a new US plant and increased production capacity in China.

Financial highlights

• Revenue for H1 2024 reached €27.67M, up 69% year-over-year; France segment up 71%.

• EBITDA margin rose to 22.7% (H1 2024), up from 8.7% (H1 2023).

• Net income, Group share, up 629% to €3.38M.

• Gross margin improved to 64.6% from 55.4% a year earlier.

• Strong cash position: closing cash €10.88M.

Outlook and guidance

• Reaffirmed ambition for €60M consolidated revenue in 2024 and €80M by 2027.

• EBITDA margin expected to remain above 20% for 2024 and subsequent years.

• Targeting €61M revenue and EBITDA >20% of revenue by end-2025.

• Strong growth prospects supported by contracts with major BESS players and new production capacity in Texas.

• Exceeded 2027 profitability target already in 2024.